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4. What Happens After A Home Foreclosure in Texas

Colby Hager on September 2, 2022

What Happens After A Home Foreclosure in Texas

The impact of a foreclosure is felt leading up to the foreclosure, during the foreclosure process, and after the foreclosure as well. Some of the after-effects of a foreclosure are well known such as damage to your credit score. However, there are other effects that come after a foreclosure as well. This article will cover what happens after a home foreclosure in Texas.


Can You Stay In Your House After Foreclosure?

Once the process of the foreclosure has run its course and the foreclosure sale has actually occurred, you will likely have to move soon. However, you could be allowed to stay for a surprisingly long period of time. Depending on the new owner and what their plans are, they may not show up and have you move right away.

 

Sometimes the new owner will actually pay you to move out by a certain time. This is known as “cash for keys” and happens quite frequently. Just be aware, that not every new owner uses this technique. Some go straight to eviction or changing the locks.

 

You can also try to rent the property back from the new owner. This has worked for more than a few people who fell on hard times and had their property foreclosed on. While not very common, it is a possibility worth exploring if you want to stay in your house after foreclosure.

 

 

Can You Get Your House Back After Foreclosure?

Many people wonder if they can get their house back after the final foreclosure sale. Unfortunately, after the court rules in favor of your lender and allows the lender to proceed with foreclosure, it is very hard for you to get your house back.

 

The best thing you can do right now is to educate yourself on your options for preventing the foreclosure from happening in the first place so you don’t have to worry whether or not you can get your house back after the foreclosure.

 

 

The Loss Of Your Home After Foreclosure

The loss of your home is one of the most obvious things that happens after a foreclosure. You will no longer have a place to live and will have to move out. This can be very difficult, especially if you have family or other attachments to the home.

 

The loss of your home also means the loss of any equity that you had in the home. This is money that you have invested in the property over time. There are steps you can take to avoid foreclosure completely before it’s too late.

 

 

Foreclosure Will Damage Your Credit

Having a foreclosure appear on your credit reports will make you appear to be a bad risk to future lenders. This could impact purchasing power and opportunities for loans or mortgages that are available to an individual. Interest rates associated with those financial institutions that are willing to accept a poor history of payment compliance often result in exorbitant fees being charged (or even getting denied altogether). It could also affect employment prospects if employers see you primarily through this lens.

 

While most people understand that a foreclosure will negatively impact their credit score, they don’t realize how much of an impact a damaged credit score can have on their day-to-day lives.  When you understand the complete impact of a foreclosure, you begin to really understand why some people even choose to use a bankruptcy to stop a foreclosure from happening.

 

Problems Finding Housing After Foreclosure our Credit

Difficulty finding housing after a foreclosure is common. If you are looking to rent a home or an apartment, most property management companies utilize credit scores as a big part of the deciding factor on who to rent to. If your credit score has been severely damaged, you could miss out on more desirable housing opportunities.

 

If you are hoping to purchase another home in the future, having a foreclosure in your past can hurt your options for borrowing money. A foreclosure stays on your credit report for 7 years. This means that you will be subject to denials and high interest for quite some time after the foreclosure.

 

Because of the potential issues with finding housing after a foreclosure, many people look for options on how to prevent the foreclosure from happening in the first place.

 

 

You Could Owe Extra Taxes After A Foreclosure

If the home is sold at the foreclosure sale for less than what is owed to the lender, you can be held responsible for the taxes on the difference. If the lender forgives the deficient amount, this is considered income according to the IRS and they will tax you on this amount. This means you could be responsible for extra taxes after the foreclosure.

 

Did You Know You Could Still Owe Money to the Lender After A Foreclosure?

If the home sells at the foreclosure auction for significantly less than what you owe on the property, the lender may choose not to forgive the deficient amount. If this happens, they could pursue a deficiency judgment. If the lender is successful in getting a deficiency judgment, it’s something that will follow you until it is paid.

 

Emotional Effects After A Foreclosure

Your mental health is at stake after foreclosure because of the high-pressure situation you have gone through. Going through a foreclosure is emotionally exhausting and frustrating, to say the least. Many people experience anxiety, depression, and even suicidal thoughts. If you are having any of these thoughts, it’s important to get help from a professional.

 

It’s also common to feel like you have failed after a foreclosure. You may feel like you let your family down or that you are not good with money. These are common feelings, but it’s important to remember that a foreclosure is not a reflection of you as a person. It’s simply a situation that you have found yourself in.

 

 

Consider Your Options To Avoid Foreclosure in the First Place

If you’re facing foreclosure, then you know how stressful and scary the situation can be.

 

But did you know that there’s a way to stop a foreclosure before it’s too late? Capstone Homebuyers is here to help. We buy houses fast and give cash offers, so even if your house is about to be foreclosed on, we can help.

 

We’re confident that we can help prevent foreclosure and help you keep your home. So don’t wait – call us today and let us help you get through this difficult time. We will cover all of the options we know of that are available to you so that you don’t have to experience what happens after a foreclosure sale.

 

7. The Probate Process And Selling A House In Texas

Colby Hager on September 1, 2022

The Probate Process And Selling A House In Texas

The probate process in Texas can be a complicated and stressful time for anyone who is selling a house during probate. Typically, there are several steps that must be completed before the property can officially be transferred to the new owner. This may include appraisals, inspections, and other necessary evaluations in order to determine the property’s value. Additionally, any outstanding debts or liens will need to be taken care of before the sale can go through.

 

Selling a house during probate can be a complex process, but there are steps that can be taken to make it as smooth as possible. With the right guidance and support, selling a house in probate can become significantly less stressful and time-consuming than it might otherwise be. So if you’re looking for a way to sell your property quickly and efficiently, consider selling during probate to a direct cash buyer. With the right strategy and guidance, you’ll be well on your way to completing this crucial transaction with confidence and ease.

 

What Is Probate In Texas?

Probate is the legal process following a homeowner’s death if the property was not in a trust or owned by another person that did not have full rights of survivorship. In most cases, the real estate that needs to go through probate will need to be sold so the proceeds from the sale can be split up between the beneficiaries if it was not indicated in the will to go to anyone or more people.

 

The first thing to do is to determine where the probate needs to occur. The best place to start is the municipality where the property is located. Then, you will need to hire a lawyer to analyze the will and then draw up the paperwork. The paperwork is then taken to the courts. The judge determines who is the rightful owner of a piece or portfolio of real estate usually based on the previous owner’s will. Very rarely does the judge rule against the will.

 

How To Begin The Probate Process in Bexar County

The probate process begins after a person dies. Soon after this, the executor of the estate is expected to inform the court, through an attorney to take care of the probate proceedings.

 

Once this is done, the attorney will handle all of the legal aspects regarding putting the estate through the probate process. Once letters of testamentary are received, the property should be legally ready to be put up for sale (the attorney will confirm).

 

Many attorneys charge upfront fees in order to begin the probate process. Sometimes these fees can be too much for the executor to handle.

 

At Capstone Homebuyers, our attorney will handle the probate without any upfront charges when you are selling the house to us. Sell Your House Now by filling out the form, and we’ll help you get started now.

 

Avoiding Scams Surrounding Houses In Probate

When selling a house during probate, it is important to be aware of potential scams. Probate is the process of selling a house after someone has passed away, and it can be a difficult time for family members and loved ones.

 

Thus, there are often unscrupulous individuals who take advantage of this vulnerable period in order to scam money from sellers. Some common tactics that scammers use include promising quick or low-cost sales but failing to follow through on those promises, misrepresenting or falsifying information about the house, or presenting themselves as representatives of official bodies like estate agents or lawyers even if they are not authorized to do so.

 

To avoid these scams, it is important to do your research and ask for proof of credentials from any potential buyers or sellers. You should make sure that you work only with reputable real estate companies that have experience buying properties in probate.

 

Additionally, you should always read contracts carefully and never sign anything until you are certain that it contains accurate information and protects your best interests. By being vigilant and prepared, you can avoid scams when selling a house during probate.

 

Here are some scams we have seen in the past:

 

1. Probate Avoidance Scam

The perpetrators of this scam usually target the elderly. It involves persuading victims to buy fraudulent products that purport to help them avoid probate, for example, a very expensive living trust kit. Once the scammers have the money in their hands, they either never deliver or provide a product that is actually legally useless.

2. Inheritance/Estate Tax Scam

Some states still levy an inheritance or estate tax. Using a trusted person’s or organization’s name, scammers contact potential executors/personal representatives informing them that they stand to inherit a bunch of money. The only catch is that – because in these states the tax must be paid before probate can go forward – the victims must first send the scammers an inflated tax.

3. Fraudulent Listings Scam

This one owes its effectiveness to the popularity of sites like Craigslist for home shoppers, especially renters, and applies particularly to probate property. Scammers research the property of recently deceased individuals and advertise it for rent. Then, when the scammers collect the deposit and first month’s rent, they disappear, leaving the people engaged in probate to deal with the upset victim.

Who Pays For The Probate Process?

You can either pay for the probate out of pocket, or you can arrange that the probate costs be taken out at closing. The executor of the estate will determine a sales price for the property, negotiate the sale price and execute the sale contract.

 

When you work with a direct buyer like Capstone Homebuyers, the lawyer that is handling the probate for you will then send their invoice to the title company handling the real estate transaction. The probate will be subtracted from the proceeds of the sale of the property. Their fee can range from a few hundred dollars to well over a thousand dollars.

 

If you aren’t working with an experienced buyer, the executor will likely be paying for the probate attorney out of their own pocket prior to the sale.

 

 

How To Sell A House During The Probate Process

Selling a house in probate can be difficult, emotional, and expensive for those involved. 

 

When you’re selling a house in probate, it’s important to find a buyer who understands the process and can help make it as easy and pain-free as possible. 

 

Capstone Homebuyers is that buyer. We are direct buyers with years of experience in the industry. We understand what needs to happen during the sale of a house in probate and we won’t charge any fees or commissions. Plus, you won’t have to worry about cleaning or repairs.

25. Selling A House With Tenants Who Aren’t Paying

Colby Hager on September 1, 2022

Selling A House With Tenants Who Aren't Paying

Selling a tenant-occupied house comes with a few unique challenges. The most obvious challenge is that you have to work around your tenant’s schedule. You will need to give them adequate notice before showing the property and be respectful of their privacy. Additionally, you may need to do some extra marketing to attract buyers who are comfortable with the idea of taking over an existing lease.

 

However, the biggest challenge occurs when the tenant is behind on rent or refuses to pay rent. This can make it very difficult to sell the property, as potential buyers will be hesitant to take on such a burden. If you find yourself in this situation, it is essential to work with a real estate professional who has experience dealing with tenant-occupied properties. With their help, you should be able to sell your home despite these challenges. Here are some options you may want to consider if you are thinking about selling a house with tenants who aren’t paying.

 

Don't Wait To Deal With A Tenant Who Isn't Paying

The first and most important thing to do if you have a tenant who isn’t paying rent is to take action immediately. The longer you wait, the more difficult it will be to get the situation under control. If the tenant falls too far behind on rent, they may damage your property or stop taking care of it altogether.

 

As a landlord, it’s important to be proactive when it comes to addressing issues with your tenants. If you wait too long to address problems, they will only get worse.  Most problems can be worked out if they’re addressed in a timely and professional manner.

 

Bury Your Head In The Sand And Hope They Pay

You could avoid the situation and hope they pay. This is definitely not the best option, but it is an option that many landlords take. You can just ignore it and hope they’ll pay on time next month and maybe even catch up. Frankly, it may not happen (it rarely does), but it could happen, so we’re including it here as a possibility. When trying to deal with frustrating tenants who don’t pay rent, we don’t recommend this strategy because it opens the doors to the possibility that your tenant will take advantage of you.

 

Negotiate With The Tenant Who Isn't Paying Before You Sell The House

If you have a tenant that is behind on rent, it’s important to take action quickly. The longer you wait, the more difficult it will be to collect the rent that is owed. However, you also need to be careful not to put your tenant in a position where they can’t afford to pay.

 

Negotiating a payment plan or offering a discount on the rent owed can help to ensure that you get paid while also giving your tenant some breathing room. You may also want to consider offering a financial incentive for your tenant to vacate the property. This can be an effective way to recoup some of your losses and avoid eviction.

 

Whatever option you choose, it’s important to be professional and understanding when dealing with a tenant that is behind on rent.

 

Document All Communication With The Tenant Leading Up To The Sale Of The House

Being a landlord comes with a lot of responsibilities. One of the most important things you need to do is establish clear lines of communication with your tenants.

This is important for maintaining a good relationship, but it is also essential should you need to take legal action at some point. That is why it is always a good idea to document all communication with your tenants. This includes texts, emails, and phone calls as well as any in-person conversations.

Make sure to include names, dates, and times, as well as highlights of the important parts of the conversation. Having this information on hand will be very helpful if you ever need to begin the eviction process before selling the house.

Begin The Eviction Process Before Selling Your Rental Property

If you have tried all other options to get a tenant to pay rent, you may eventually have to begin the eviction process. This can be a difficult and stressful process, but it is often necessary to protect your property rights.

 

Eviction proceedings can take some time, so it is important to be patient and follow the steps carefully. First, you will need to give the tenant a notice of eviction, which must be served by a law enforcement officer or constable. Once the notice has been served, the tenant will have a certain amount of time to pay the rent or move out of the property. If they do neither, you can then file for an eviction hearing with your local court.

 

An eviction hearing is a formal court proceeding where both sides will have a chance to present their case. If the judge rules in your favor, they will issue an eviction order, which will be served by law enforcement. The tenant will then have a set amount of time to leave the property. If they do not comply with the eviction order, you can then have them forcibly removed by law enforcement. While evictions can be stressful, they are often necessary when selling a house with tenants who aren’t paying.

 

Sell Your House Without Dealing With The Tenants

You have a tenant who isn’t paying rent and you need to sell your house fast. 

 

Dealing with tenants can be incredibly frustrating, especially when they’re not paying rent. Not only do you have to go through the hassle of evicting them, but trying to sell your house with a tenant in place can be next to impossible. 

 

Capstone Homebuyers is the solution for you. We will buy your house fast for cash, even if the tenant isn’t paying rent. We understand that selling a house with tenants can be difficult, so we make it easy for you. Contact us today and we will give you a free quote on your home.

3. Understanding The Beginning of the Foreclosure Process In Texas

Colby Hager on September 1, 2022

Understanding The Beginning Of The Foreclosure Process In Texas

One of the most difficult experiences a homeowner can go through is foreclosure. It can be financially and emotionally devastating, and it can damage your credit for years to come. If you’re facing foreclosure in Texas, it’s important to understand the process so that you can take the necessary steps to protect your rights.

 

If you wait too long, you may find yourself in a situation where you are unable to sell your property and are forced to move out. With this in mind, it is important to be aware of the foreclosure process in Texas so that you can take action to prevent it from happening to you.

 

The Beginning Steps To A Foreclosure In Bexar County

The first step in the foreclosure process is known as pre-foreclosure. This is when the lender sends a notice to the borrower informing them that they are behind on their payments and that they need to catch up within a certain period of time or face foreclosure.

 

If the borrower doesn’t catch up on their payments, the next step is a Notice of Default and Intent to Accelerate, which is sent by the lender informing the borrower that they have failed to make their payments and that they have 30 days to catch up or face foreclosure.

 

If the borrower still doesn’t make their payments, the next step is a Notice of Acceleration and Posting of Foreclosure, which is sent by the lender informing the borrower that their home will be sold at a foreclosure auction in 21 days. At this point, the borrower has two options: they can either try to sell their home to prevent foreclosure or they can let their home be sold at auction.

What Is A Pre-Foreclosure In Texas?

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”

Banks and mortgage lenders typically provide three months for the homeowner to become current. Of course, this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

What Is A Notice of Default?

The “Notice of Default and Intent to Accelerate” gives formal notice about the borrower’s default. This allows them an opportunity (at least 20 days) for curing it, although most substitute trustees handling foreclosures for banks in Bexar county feel that 30 days to cure is the safest way to ensure a proper foreclosure is being conducted.

 

The notice of default is a very important step within the foreclosure process that gives people with an interest in the property to step forward and claim their rights – before it’s too late. If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take action.

Options Available To Homeowners At The Beginning Of The Foreclosure Process

You may be able to quickly sell your home to a reputable real estate investor in San Antonio TX like Capstone Homebuyers

We use cash to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments). We can buy your San Antonio area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.

You can contact the bank and ask them to permit a short sale

In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off. In some short sales, you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.

You may be able to declare bankruptcy

Bankruptcy can buy you time to pay your debt. Bankruptcy will remain on your credit report for years and can cause significant damage. There are some risks that go along with this strategy so make sure you understand the pros and cons of filing bankruptcy to avoid forclosure.

Request a loan modification

This is when the bank will allow you to wrap your back payments into your loan or tack them onto the back end of your loan. While this option can save you from moving closer to a foreclosure, it can be costly at the end of your loan.

Be Aware Of Foreclosure Scams

If you’re in foreclosure and are looking for a solution to avoid foreclosure and get foreclosure help in Bexar County TX, here are some “solutions” some less-than-honest companies may offer and what you need to watch out for.

  • Charging upfront fees to get mortgage assistance from lenders. Fannie Mae says, help is free. Some companies will try to charge you for talking with your lender about your mortgage to find a solution. Don’t fall for it; this is one of the classic foreclosure scams. You can talk with your lender about the mortgage and your options anytime with no charge, or work with a company that will do your loan counseling for you for free.
  • Signing over the deed to your home at your kitchen table. Never sign over the deed to your house unless you’re working with your mortgage company to forgive your debt… unless you’re physically selling your house to that company. If that’s the case, ask the company to do everything at a reputable attorney's office so everything is on the up and up (always consult legal advice before ever signing over your deed).
  • Try to say you don't need to work with a professional or have an attorney handle the paperwork. Selling your house, whether you’re in foreclosure or just need to sell quickly, should be done with the help of certain professional services. With every house we buy, we always use a neutral 3rd-party title company to handle the closing, drawing up the closing documents, and all related paperwork.

Sell Your House To A Reputable San Antonio Based Company

You’re about to lose your home and you don’t know what to do. You’ve tried talking to your bank, but they won’t help you.

We can help people avoid foreclosure at the last minute. If your house is facing foreclosure in days, we have solutions that can help you prevent foreclosure.

Foreclosure doesn’t have to be inevitable. Capstone Homebuyers offers solutions that can help people save their homes at the last minute. Contact us today for more information.

21. Selling Your House When There Is A Divorce

Colby Hager on August 26, 2022

Selling Your House When There Is A Divorce

We buy houses in San Antonio, Texas, and provide residents with the ideal way to sell their homes fast by offering cash for houses. If you’re going through a difficult divorce and trying to figure out what to do about your house that needs to be sold, then keep reading this blog post to get our best suggestions about selling your house when there is a divorce.

 

For couples going through a divorce, the process can be both emotionally and financially draining. One of the biggest sources of stress often comes from the division of assets, including the family home. If you find yourself in this situation, you may be wondering how to sell your house during a divorce.

 

When To Sell A House If There Is A Divorce

Deciding when to sell a house that is part of a divorce can be a difficult and emotionally fraught decision. On the one hand, selling the house quickly may be important for settling financial matters and moving on with your life. However, it is also critical to consider the condition and market value of the house before making any final decisions.

 

A number of factors can affect the sellability of a house in the divorce context, including whether there are children involved, how well the property has been maintained, and what resources are available to make renovations or repairs if needed. Ultimately, determining when to sell will be an individual decision that should be made based on your unique circumstances and personal priorities. But whatever you decide, it is crucial to carefully consider all aspects of your situation before proceeding.

 

Selling A House During Or After A Divorce Can Be Complicated

When selling a house during or after a divorce, it is important to be aware of the unique challenges that can arise. 

 

In the middle of a divorce, selling a house can be particularly complicated and stressful. This is because any decisions about the sale must be made jointly and in accordance with an official court order or agreement between both parties. This can mean having to deal with conflicting priorities and making difficult compromises, often while feeling emotional and overwhelmed by everything else going on in your life. 

 

On the other hand, selling a house after a divorce typically involves working with the court system. This often involves obtaining a legal decision or decree that addresses key issues such as property division and spousal support, which can make it easier to proceed with the sale. However, there may also be delays caused by unresolved disputes between the parties or requirements related to child custody arrangements, which can extend the time it takes to complete the sale. In either case, those involved in selling a house during or after a divorce will benefit from seeking professional guidance from real estate agents or expert home buyers who are familiar with these types of situations.

 

Overall, whether you are trying to sell your home during or after a divorce, it is crucial to be aware of the challenges ahead of time.

 

Sell Your House The Fastest Way

Now that the decision has been made to sell the house, speed and/or selling on a specific date is usually the next item on the agenda. Most people consider one of two options when selling a house during or after a divorce.

 

Selling The House With A Real Estate Agent

While there may be some benefits to working with an agent, there are also several potential downsides that should be considered. For example, agents often charge hefty commissions, which can eat into the proceeds from the sale and make it more difficult for parties to come to an agreement regarding property division. Additionally, working with agents may simply prolong the ordeal of selling during a divorce rather than expediting it, as each party will need to continue communicating and negotiating even after moving forward with their respective sales.

 

Despite some drawbacks, real estate agents do give your house access to the biggest pool of buyers, and selling with an agent is an option that most people explore first.

 

Selling The House To A Direct Cash Buyer

Direct home buyers such as Capstone Homebuyers offer an alternative option for selling a house fast in the midst of a divorce. By working directly with buyers rather than agents, you can be sure that you are getting a fair offer and that your needs are being prioritized. Furthermore, using a direct buyer can help to streamline the selling process, so that you do not have to wait weeks or months for your home to sell through traditional methods.

 

Also, most companies that buy houses have experience with purchasing houses from complicated situations like divorce and know how to navigate the moving parts. Sometimes, they may even be able to make things easier and faster than you may have thought possible. For these reasons, some homeowners feel this option may be the best option for ensuring peace of mind and getting your home sold quickly and fairly.

 

The Easy Way To Sell A House In Divorce

Selling a house in divorce can be a difficult and complicated process. Divorce is hard enough without having to worry about selling your house. You may not know where to start or what to do next. The stress can be pretty overwhelming.

 

Capstone Homebuyers is here to help. We are experts in buying houses in divorce and we buy houses with fair, all-cash offers and take care of the paperwork and make the process of selling easy.

 

Call us to find out how we can help no matter what the situation.

24. Selling A Tenant Occupied Property: What You Need To Know

Colby Hager on August 25, 2022

Selling A Tenant Occupied Property: What You Need To Know

Selling a tenant-occupied property is a likely reality at some time or another as a landlord. Eventually, there will come a day when you want or need to sell your property because of any number of reasons. When that time comes, you’ll likely want to sell and get cash for your San Antonio house.

 

Even if you have tenants, it is your property and you may sell it if and when you want. In some cases, you’ll be able to let your tenants know, and it won’t be an issue. However, you also don’t want to risk losing your tenants and being stuck with a vacant home while your house is on the market. That said, the tenants have rights, and you want to make sure you aren’t violating them.

 

The best way to handle the situation is with open communication and making sure everyone is treated fairly during the process. That includes making sure the new buyer knows that the tenants that are living in the home have a lease (even if it’s month to month) and they need to be treated fairly after the sale.

 

Selling A Rental When Tenants Are Still Living In The House

Owning a rental property seems like a great idea. You buy it cheap, you find a tenant, and then you profit from the rental income while you manage the property… how hard could it be?

 

The problem is, it’s often much harder than people realize and you may find (as many landlords do) the surprising truth of being a landlord: You give up much of your personal life – no more private time, no more vacations, no more weekend getaways… all because you’re so busy as a landlord.

 

Even if you properly evaluate your tenants beforehand, locating, securing, and screening tenants are some of the things most landlords look forward to the least.

 

However, you never want to speed through the process just to fill a vacancy quickly. Allowing a poor tenant to rent your property will only end up costing you time and money in the long run.

 

Owning a rental home will keep you busy. There’s the work required to find the property, then to fix it up, then to find a tenant, then to answer the phone from them every time they call. Even if they call late at night because the toilet is overflowing, you have to take their call and deal with it. All of this may have you considering the sale of the property prior to the lease ending.

 

Plus there is the constant worry about vacancies and thinking about what a vacancy will really cost you. Calculating the cost of vacancy or COV is critical when deciding to keep or sell your vacant rental property.

 

  • Loss of income
  • Utility bills moved into your name while the house is vacant
  • Marketing the house to find new tenants
  • Screening tenant applicants
  • The value of your time

How To Sell Your House While It's Leased

What does your lease situation look like? If you have a month-to-month lease, ending it shouldn’t be too difficult. You will need to provide a fair amount of notice to your tenant, typically 30-60 days.


If you are in the middle of a long-term lease, things are a bit different. If you want to sell mid-lease, you’ll either need to sell the property to an investor who will honor the lease, or give your tenant some sort of incentive to move out.


Some leases contain early-termination clauses that would allow you to end the lease early in certain situations. Remember, the tenant has rights too under the fair housing act, and if you violate those rights, you could find yourself in quite a bit of hot water.


If you have difficult tenants and your tenant has violated their lease, you should be able to evict them without an issue. That said, if your tenant is refusing to leave, the eviction process can become long and arduous. Most landlords try to avoid dealing with tenants‘ evictions at all costs.

By selling a property with tenants directly, you’ll be able to avoid the eviction process yourself and be able to move on from the house with cash in hand. Many direct buyers will simply take over the lease and business will go on as usual. If the tenants are in violation of the lease, the buyer will go through the eviction process as necessary.


Plus, a direct sale will help you avoid having to list, market, and show the property, things would likely cause even more tension between you and your difficult tenants.


Selling The Property Directly To The Tenants

When considering your options for selling your property while it is still being leased,  a great place to start is with the tenants you have already living in the home. If they have been there for a while, they have likely grown comfortable. If homeownership is something they are interested in, the process doesn’t get much easier. They won’t have to move, you won’t have to clean up after old tenants… everybody wins!

 

That said, if they haven’t purchased a home in the past, there may be a reason why. Make sure your tenants are qualified to buy your house and that they are able to come up with a down payment and other buying costs before getting your hopes up about a sale.

 

Sell The Tenant Occupied House To A Direct Buyer

There are many reasons why a direct sale to a cash home buyer is beneficial for people who need to sell a tenant-occupied property. Investors are happy to take over a house that already has a tenant in place, especially when they are in good standing.

It saves them time and money advertising, marketing, and showing the property. They won’t have to bother screening tenants or running background checks because those things have already been done.

Even if there is a difficult tenant living in the home, an experienced company that buys houses won’t have trouble pursuing the eviction process if the tenant is in violation. They have likely had to do it before, and won’t be bothered by the process.

If you want to sell your house in San Antonio, there are certain ways to go about doing it. Always make sure you are being fair to your tenants, and giving the proper amount of notice. Not only is it the law, but it is the right thing to do.

At Capstone Homebuyers, we purchase houses in any condition (even if your tenant trashed your property). No matter what your situation is, we got you covered. Our process will be fast, efficient, and seamless, making things simple for both you and your tenants.

11. Selling Your House Without A Realtor: The Advantages of Selling To An Investor Instead of Listing the House On The MLS

Colby Hager on August 25, 2022

Selling Your House Without A Realtor: The Advantages of Selling To An Investor Instead of Listing the House On The MLS

“Selling a house without a realtor” in San Antonio has always been an option for homeowners. However, most people choose to work with an agent to list their property and let the agent try to find a buyer.

 

You can also list your home yourself and try to find a buyer. Or, you can work with a real estate investor or “cash home buyers in San Antonio” who will buy your house from you directly… and fast.

 

Each way has some specific advantages and disadvantages that homeowners should be aware of when they are considering selling a property.

advantages of selling without a realtor

Reasons To Sell Without A Realtor

1) The Costs of the Sale Can Really Add Up

Listing your house can come with a number of expenses home sellers aren’t always ready for. Sellers often find themselves paying for repair costs, staging, cleaning, closing costs, and expensive commissions when the house sells.

 

There are holding costs including taxes, insurance, utility bills, and routine maintenance to factor in. Before you hire an agent to help you sell your property, make sure you are aware of what you may have to spend. When you run the numbers, and compare the costs of a traditional listing and home sale to selling to a “we buy houses” cash investor, you you may find there a many advantages of selling directly to a local investor.

2) Real Estate Agent Showings Can Be A Hassle

If your house is listed on the MLS, you will be expected to make your house available for showings. This means living in a constant state of clean and organized 24/7 until you move out. You may also be asked to leave your home on extremely short notice for a showing if possible, sometimes immediately.

Trying to coordinate property showings with everyone else’s schedule can prove to be challenging. Some sellers find it’s easier if they move out of the home when they put their house on the market because of the hassle of showings, but would you want to be responsible for 2 house payments before you can guarantee the sale of your house? 

Plus, imagine the work that goes into getting your house ready for showings.  Preparing to sell your house without a realtor for a cash offer is considerably easier.

3) Inspections and Re-Negotiations Are Standard

Once you receive an offer for your house, the buyer will order an inspection. Depending on the property and its condition, the potential buyer will likely request that you make the needed repairs before the sale is finalized. An appraisal can also require the seller to sink money into the house before the bank approves the buyer’s loan. A low appraisal is one of the most common reasons for a sale to fall through. Home sellers should be prepared for this and either have a rebuttal or a repair plan they can quickly execute without breaking the bank.

4) The Sale Isn't Guaranteed

We have purchased houses from many home sellers out there who have listed their houses in the past but have found themselves right back where they were once the listing agreement has expired even in today’s real estate market. When you put your property on the MLS, there is no guarantee it will sell.

 

Also, there are a number of factors that can cause the sale to fall through. There may be a contingency in the offer stating their house needs to sell before they are able to purchase yours. This means that if their sale falls through, yours will too.

 

The sale can also fall through if the property doesn’t appraise high enough or if there are repairs required that you were unaware of. Imagine having your house listed on the MLS for several months, finally getting an offer, only to have everything fall through, putting you right back at square one. The listing uncertainty can be almost unbearable for people who need to sell a house fast.

5) The Time On The Market Can Vary

The MLS, or multiple listing service, keeps track of how many days it’s been since you first listed your house for sale on the market. If your house ends up being on the market for more than 60 days, this is not a good sign to buyers. It may indicate that your house is not as desirable as other properties, or that there might be something wrong with it. There may not be anything wrong with your property, but this might stick in the back of the mind of potential buyers.

 

Maybe you haven’t had a full price offer and are holding out. Whatever the reason, the time on the market counter may work against you.

 

sell house faster than agent in texas

6) Commissions To Both Realtors Can Be Costly

When you list your house on the market, there are commission fees that are expected from the selling agent and the buying agent. This is usually 6% of the final sale price, which adds up to a large amount of money!

If you are using an agent without using the MLS, you might be able to set a flat fee for less than traditional commission fees but you usually sacrifice all of the knowledge and assistance that comes with paying the higher fees. You normally have to pay up front for a flat fee listing. That means even if your house doesn’t sell, you’ve already paid the commission fee without the chance for a refund.

7) Not All Real Estate Agents Are Equal

There are so many agents to choose from, how are you supposed to know who to choose? Do you pick the person with the most ads? Or do you go with the guy your friend recommended? Not all real estate agents are equal. Some have tons of experience and some are brand new. Some give great customer service and others will leave you wondering if they moved out of town. Making sure you choose the right agent can be difficult to say the least.

Advantages Of Selling To A Local Home Buying Company

Selling your house directly to a local company that buys houses in San Antonio has some major benefits as well as some drawbacks. The benefits of selling direct can be powerful depending on why you need to sell your house.

 

There are a few drawbacks as well. For one, anyone can be an investor without any formal training or certifications. Someone can just say they’re an investor and they’re an investor… without any additional training. This can be a disadvantage to homeowners who might be looking for help with a unique situation but end up working with an investor who has little to no experience.

 

One of the biggest complaints buyers have about working with direct buyers in San Antonio is that the offers are usually below market, but this isn’t always the case.

 

Fortunately, there ARE investors out there who have the skills, knowledge, and experience to help you in your situation, no matter how complicated it is.

1) Local Homebuyers Will Buy Your House On Your Timeline

When you sell to a real estate investor, they can close fast – often in as little as a week or two (it varies, depending on the investor). Since they are buyers, and there’s no searching… you already know who they are so you can sell quickly!

 

Sometimes, homeowners need more time to move but want the peace of mind that comes with knowing the house will be sold on a guaranteed date. In this case, a professional homebuyer will allow the seller to take the time they need to get their affairs in order prior to the sale.

2) Selling For Cash Means No Repairs Required

Not every house is in pristine condition. That’s okay, it happens. But when you sell to a traditional buyer, you’ll probably have to pay out-of-pocket to fix up the property and clean it before a traditional buyer will even look at your house. But most real estate investors buy houses in as-is condition, which means you can save money and time (and hassle!) by skipping the repair and cleaning.

 

And if the repairs are really extensive, you won’t have to deal with a contractor, either. Yes, the investor may ask for a small discount on the selling price since THEY are covering the repairs instead of you, but this is a small price to pay to sell quickly and without all the hassle.

3) No Cleaning Needed When You Sell To An Investor

Most people who buy houses for a living have a professional clean-out team. They do not need you to remove all of the personal items that aren’t going to your new home. You won’t have to worry about carpet cleaning, junk removal, sweeping, or any type of clean-up or clean-out at all!

4) Selling Your House To A Company That Buys Houses Means No Annoying Showings

Selling your house the traditional way means having showings that can come at any time, any day. You never know when someone might want to come to look at your house, and you have to be available to let them in. 

 

Showing your house can be really frustrating. You never know when someone might want to come to look at it, and you have to be available to let them in. If you’re not home, then they’ll just have to come back another time. 

 

When you sell your house to a local company like Capstone Homebuyers, there are no frustrating showings. We’ll buy your house as-is, so you don’t have to worry about fixing it up or making it look nice for potential buyers.

5) Cash Offer Homebuyers Don't Charge Fees Or Commissions

You want to sell your home, but don’t want to pay the high fees associated with a traditional sale.  Deciding to sell your home to a local home-buying company can save you thousands of dollars in commissions and fees. 

 

Home investors like Capstone Homebuyers will take on all of the closing costs, don’t charge a fee for their service, and there are usually no commissions.

6) A Reputable Company That Buys Houses Won't Re-Negotiate The Sales Price

Professional home buyers do not re-negotiate a sales price. This is a tactic used commonly with traditional sales. A buyer will have a home inspection done and then use the inspector’s findings to justify a price reduction or completion of repairs.

 

This is why selling your house to a “we buy houses” type of company can be so beneficial. You aren’t going to get hit with a lower price due to an inspection or appraisal. Just keep in mind that some scammy fly-by-night home investors try to use this technique to line their pockets, so if this happens to you, go here and read about what to do.

easy cash home sale

Sell Your House For Cash To A San Antonio House Buyer

Should you sell your house to an investor or through a realtor? The answer really depends on your specific situation. Selling to an investor can have some serious advantages in certain cases, but there are also some questions that come with this option that only you can answer. If you’re looking for a more straightforward transaction with less risk, selling to a home buyer for cash may be the best move for you. Contact us today to learn more about how we can help you sell your house quickly and easily.

6. How To Sell A Property In Probate In San Antonio

Colby Hager on August 13, 2022

How To Sell A Property In Probate In San Antonio

We buy houses in San Antonio, Texas. We are local home buyers at Capstone Homebuyers and help provide residents with the ideal way to sell their homes fast by offering cash for houses.

 

After facing the loss of a loved one, probate can mean long drawn-out proceedings, especially with larger estates. Should you find yourself in this position, read on for information and how to sell a probate property in San Antonio.

 

Probate can be costly to go through, so avoid making the mistake of skipping any of the legal requirements which can further tie up your property. You’ll need to be patient as the assets, will, and who will handle the estate of the deceased are analyzed and determined. Executors may need to liquidate the real estate, leading to the probate court distributing the funds among those beneficiaries.

 

What Is Probate

Probate is a process by which the courts legally recognize a deceased person’s (the decedent) death, settle their outstanding debts, and distribute remaining assets to their heirs. The process is designed to facilitate the transfer of a deceased person’s estate, and when necessary, to protect both beneficiaries’ and creditors’ interests in the decedent’s estate. In Texas, probate is handled in Texas’ Probate Courts. In Bexar county, there are two probate courts and each handles things slightly differently.

 

Do You Need An Attorney To Probate A Will In Bexar County

In Texas, you do need an attorney to represent the estate in probate court. While there are some cases where an attorney is not required, there are instances where the executor or executrix of an estate must have representation in front of a court. There are some instances when selling a house is the only goal of the heirs to a property where probate isn’t required and therefore an attorney isn’t required.

selling a house in probate san antonio

Common Documents Needed To Sell A House In Probate

  • The Original Self Proving Will
  • Original Death Certificate
  • An Inventory of the Estate
  • Debts to Creditors of the Estate

Original documents are required to be filed with the probate court. The courts will not accept photocopies and they do not return original documents so make sure you have copies prior to providing them to your attorney or to the probate court.

 

How Long Does It Take To Sell A House In Probate

family deciding to sell an inherited house quickly

The probate process isn’t known for its speed or convenience. For many heirs, the process can be grueling and time-consuming. A situation that is already painful and difficult can become even more so when it is drawn out.

 

You will want to make sure that you and your fellow heirs are on the same page to avoid any disagreements in the process. Between the legal waiting periods, and disagreements between family members, the probate process can become incredibly drawn out.

 

When you are able to establish an agreement beforehand, the process will be much easier when it is actually time to get things done. Once a person dies, it is important to file for probate as quickly as possible. Not doing so will likely raise the costs of holding the home.

 

If you are responsible as the executor of the estate, you may find yourself dealing with paperwork, phone calls, and court hearings that can take up a good amount of time.

 

 Some probate cases can be wrapped up in a matter of months, while some can go slightly faster. Keep in mind, that the courts have cited the Covid-19 pandemic as having caused delays due to various issues. Having everything together ahead of time will make the process go much more smoothly.

 

If a will is needed to sell the house from the estate, probate must be complete before the sale can occur. This is because the title company needs a document from the court called Letters Testamentary. This document is what allows the title company to properly convey the deed from the estate to the new buyer.  Preparing to sell a probate house can be different for each estate. 

 

Listing A Probate House For Sale

If you have never worked with an agent to sell a house in San Antonio, you may not know exactly how the process works. First, the house will need to be repaired to be competitive with others on the market. You’ll need to clean and stage it in order to attract as many people as possible.

 

While you are waiting for it to sell, you or the estate will have to cover the taxes, utility bills, and insurance. When you use a real estate agent to sell your inherited house in San Antonio, you will also have to pay out a hefty commission when the house sells. The time and money spent on listing an inherited house might not always be worth it, especially if there are repairs needed to be done prior to the sale.

 

Selling A Probate House For Cash To An Investor

By selling your house directly and avoiding the MLS, you will be able to skip the repairs, showings, cleaning, commissions, closing costs, and waiting! You will save thousands on the holding costs alone. Selling a house you inherited doesn’t have to be complicated. Working with Capstone Homebuyers will save you time, and money, and make a difficult process that much easier.

 

Selling an inherited house can be a long and complicated process. Most people don’t have the time or patience to go through with a traditional sale. Plus, you might not even know where to start. 

 

Capstone Homebuyers is here to help. We are experts in buying houses in probate or pre-probate, and we can make the process quick and easy for you. We will handle all of the paperwork for you and close on your timeline. You won’t have to make any repairs or clean up before closing, and you can leave any personal belongings in the home. Contact us today to learn more!

 

1. Ways To Stop Foreclosure Last Minute

Colby Hager on August 13, 2022

Ways To Stop Foreclosure Last Minute

If you are facing a foreclosure and you waited too long to take steps to avoid the foreclosure, you might find yourself thinking of last-minute ways to stop the foreclosure. If you are about to lose your home and you don’t know what to do, we can help with solutions so that you can avoid foreclosure. Find out the quickest options to stop a foreclosure before the auction at the courthouse steps.

 

This can be a stressful situation, but it’s extremely important to keep your wits about yourself. A foreclosure will have a huge negative impact on your credit score, and likely prevent you from purchasing a home for several years. If you sell your home using a short sale, you could leave a portion of the loan unpaid, and the lender could pursue legal action against you for the unpaid portion.

Use A Temporary Restraining Order To Stop A Foreclosure

If you are in the very last stages of the foreclosure process, you might be able to stop a foreclosure sale by filing for a temporary restraining order (TRO). This would stop the sale of your home, giving you more time to figure out what to do. However, it’s important to note that this is option is not without challenges.

using a temporary restraining order to stop a foreclosure

An attorney will have to file a lawsuit against your lender. A judge will have to approve the TRO as well. Most attorneys need at least a couple of days to start this process. This process can be cost-prohibitive as well. Many attorneys charge several thousand dollars to initiate this process.

 

Additionally, a temporary restraining order to stop foreclosure is sometimes viewed as risky for the homeowner. While the risks may be rare and seem improbable, you have to know they do exist. Because you are going to sue the lender, you cannot file a false or frivolous lawsuit. There can be penalties involved if this is determined to be the case.

 

If you are working with a reputable home buyer to help you stop the foreclosure, they will likely guide you through this process if it is a viable option and may even pick up the attorney fees.

File For Bankruptcy To Avoid Foreclosure

filing for bankruptcy to stop a foreclosure

Filing for bankruptcy to stop a foreclosure isn’t something most people think of right away. However, if you have a few days before the auction date, this may be an option. A qualified bankruptcy attorney will guide you through the process of which bankruptcy option is right for your specific situation.

 

If you are in personal bankruptcy, Chapter 7 may be the ideal option. Under this chapter, debtors must liquidate assets that they can no longer afford to pay off or maintain. In most cases, filing for Chapter 7 will stop foreclosure immediately as it is considered an automatic stay.

 

Chapter 13 bankruptcy might also be an option depending on your situation. No matter which route you choose or are advised to take, the attorney’s fees can be costly and there is always the risk of your property not being covered by the bankruptcy. However, if you are just looking for an extra month or two in the property, this can be an option to prevent a foreclosure.

 

Sell Your House To A Reputable Cash Homebuyer To Avoid Foreclosure

Selling your house to a local investor who buys houses can be an option if you need to stop foreclosure within 24-48 hours. Some serious real estate home buyers have the ability to stop a foreclosure lightning-fast by purchasing the house and getting the bank paid off before they can go through with the foreclosure at the auction.

 

Another benefit of selling your house to a cash home buyer is that you won’t have to shell out thousands to an attorney to prevent the inevitable. These investors are able to offer some great deals because they have access to private funding and cash that allows them to move fast enough to help you avoid foreclosure altogether.

 

One of the biggest challenges is finding a reputable home buyer. You will want to seek recommendations from friends and family, check online reviews, and do all of your research so you can work with the homebuyer who is the best fit for your and your situation.

 

selling a house fast to avoid foreclosure

How Capstone Homebuyers Can Help

Foreclosure is a scary word and it can feel like there’s no way out.  You might be thinking, “I don’t want to lose my home,” or “How will I afford a new one?”  You’re not alone. Tens of thousands of homeowners are in the same boat as you every year.

 

We understand that you may be feeling overwhelmed, but we want to assure you that there is hope. Capstone Homebuyers is here to help you find a last-minute solution to your foreclosure problem. We work quickly and efficiently to get you back on track. Our team has years of experience helping homeowners just like you get back on their feet and we can help you too. Contact us today for a free consultation.

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Capstone Homebuyers is a company that buys houses in San Antonio and has spent years developing a great reputation. As a team, we bring years of experience to the table. We are focused on helping homeowners like yourself sell your house quickly without any hassle, fees, or commissions. Our promise is to deliver this service with honesty and integrity throughout the entire sales process.

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